ROSEMEAD, Calif. (TheStreet) -- While people are still talking about (or, at Barron's, left wondering about) First Solar's (FSLR) recent second-quarter earnings beat, the company just keeps chugging along. And today was no different.
Already known as one of the biggest players in the solar sector, First Solar is making further inroads into the country's largest populous: California.
Today, First Solar -- known for making thin-film photovoltaic modules -- and Southern California Edison (SCE) announced a deal to build two enormous solar power stations in Riverside and San Bernardino counties.
Calling them "among the largest of their kind," a press release announcing the agreement said that together the installations could have 550 megawatt capacity, or about as much to power 170,000 homes.The Riverside project, called Desert Sunlight, is scheduled to begin construction in 2012, while the San Bernardino operation, called Stateline, will start construction in 2013, barring any regulatory or other hiccups. Completion of both projects is expected in 2015. Shares of First Solar gained 34 cents, or 0.3%, at $134.80 this morning. Elsewhere, American Depositary Shares for Trina Solar were rising 2% following Trina Solar's bump in second-quarter earnings, announced yesterday afternoon. Yingli Energy (YGE), JA Solar (JASO), ReneSola (SOL), SunPower (SPWRA) and Canadian Solar (CSIQ) were each gaining at 2.6%, 3.1%, 1.2%, 1.3% and 4.1%, respectively, this morning. But Solarfun (SOLF) was hanging in negative territory after the company posted a GAAP loss turned profit after excluding items. ADS's were down 36 cents, or 5.8%, at $5.96. -- Reported by Sung Moss in New York
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV